Skip to content

Blockchain News Feed

All the latest news on Blockchain & Cryptocurrencies

Menu
  • Home
  • News
  • Exchanges
  • Market Analysis
  • YouTube
  • Brave Browser
Menu

Russia Central Bank: Crypto Risk To Global Finance ‘Small’

Posted on mei 31, 2018 by Blockchain News

The central bank of Russia has repeated its stance on cryptocurrency in its latest statistical bulletin, claiming its impact on global stability is “small.”


No Threat To Financial Stability

As the country prepares to issue hard-and-fast regulations on cryptocurrency, ICOs and more, the Bank of Russia said that the “risks” associated with them would only increase should the industry greatly expand.

“Regardless of their high volatility, at present cryptoassets do not constitute a risk for global financial stability inasmuch as their transaction volume is very small when compared to the scale of the global financial system, and the link between this area and the financial system is not a large one,” the document reads.

Russia Still Lacks Legal Framework For Tax

The tone echoes that taken by various central lending institutions over recent months and years, continuing a narrative Russia began in 2015 when authorities railed against Bitcoin as a “money surrogate” and claimed it would not be permitted.

Deputy Finance Minister Considers Official Trading

The regulation currently awaiting final consultation from lawmakers likewise does not include provision for cryptocurrency to become legal tender in Russia, this remaining the sole privilege of the ruble.

Russian law forbids the existence of more than one central emission center for currency.

Nonetheless, last week, deputy finance minister Alexey Moiseev floated the concept of cryptocurrency exchange being allowed on the domestic currency market.

Russia is Fully Embracing the Technology

Moiseev had been vehemently against such moves as late as last year, underscoring the changeable and unpredictable stance to have emerged from Moscow on the topic since cryptocurrency became more of a mainstream phenomenon.

For its part, however, Bank of Russia noted the situation may become less stable should institutional investors enter the market en masse – a move which analysts expect may occur in the US later this year.

Russia’s cryptocurrency laws are due to become final on July 1, in line with decrees from president Vladimir Putin.

What do you think about Russia’s current stance on cryptocurrency risk and trading? Let us know in the comments section below!


Images courtesy of Shutterstock

The post Russia Central Bank: Crypto Risk To Global Finance ‘Small’ appeared first on Bitcoinist.com.


Source: Bitcoinist.com
Original Post: Russia Central Bank: Crypto Risk To Global Finance ‘Small’

Ledger Nano X - The secure hardware wallet

Recente berichten

  • Coinbase extends request for builders to expand ecosystem via Base Fund
  • Do Kwon to reportedly appeal against court’s decision to extend detention
  • Helium bottoms out in oversold territory- here’s what investors can expect next
  • Nasdaq Aims to Launch Crypto Custody Services in Second Quarter
  • Long-Term Holders Are Moving Away From One Ethereum DeFi Altcoin, Says Analytics Firm Santiment

Categorieën

  • Altcoin Buzz
  • Altcoin Buzz News
  • AMBcrypto
  • Bitcoin.com
  • Bitcoinist
  • BTC Manager
  • CCN
  • Coin Mastery
  • Coindesk
  • Coinpower News
  • Cointelegraph
  • CryproSlate
  • Crypto Daily
  • Crypto News (.net)
  • Cryptocoin News
  • Cryptocurrency News
  • CryptoDaily.co.uk
  • CryptoPotato
  • CryptosRUs
  • Daily HODL
  • DataDash
  • Ethereum Worldnews
  • Exchanges
  • ICO's
  • Invest in Blockchain
  • Market Analysis
  • News
  • News BTC
  • Newsbit
  • Portfolio
  • Pricecheck
  • Ready Set Crypto
  • The Modern Investor
  • ToshiTimes
  • Use The Bitcoin

Archieven

  • maart 2023
  • februari 2023
  • januari 2023
  • december 2022
  • november 2022
  • oktober 2022
  • september 2022
  • augustus 2022
  • juli 2022
  • juni 2022
  • mei 2022
  • april 2022
  • maart 2022
  • februari 2022
  • januari 2022
  • december 2021
  • november 2021
  • oktober 2021
  • september 2021
  • augustus 2021
  • juli 2021
  • juni 2021
  • mei 2021
  • april 2021
  • maart 2021
  • februari 2021
  • januari 2021
  • december 2020
  • november 2020
  • oktober 2020
  • september 2020
  • augustus 2020
  • juli 2020
  • juni 2020
  • mei 2020
  • april 2020
  • maart 2020
  • februari 2020
  • januari 2020
  • december 2019
  • november 2019
  • oktober 2019
  • september 2019
  • augustus 2019
  • juli 2019
  • juni 2019
  • mei 2019
  • april 2019
  • maart 2019
  • februari 2019
  • januari 2019
  • december 2018
  • november 2018
  • oktober 2018
  • september 2018
  • augustus 2018
  • juli 2018
  • juni 2018
  • mei 2018
  • april 2018
  • maart 2018
  • februari 2018
  • januari 2018
  • december 2017
  • november 2017
  • oktober 2017
  • september 2017
  • maart 2017
  • juni 2016
  • juli 2014
  • september 2013
  • augustus 2013
©2023 Blockchain News Feed | Design: Newspaperly WordPress Theme